Targa Resources TRGP · USD
Energy · Oil, Gas & Consumable Fuels · US listing · 🇺🇸 United States
S&P 500
273.63
+3.42%
Close of 9 Nov 2026, in USD
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About Targa Resources
From its filings with the US Securities and Exchange Commission
Targa Resources is based in Houston, Texas. Its shares trade on NYSE under the ticker TRGP. It is a member of the S&P 500. The SEC classifies its business as natural gas transmission. In the fiscal year to 31 December 2025, it reported revenue of $17.03bn and net income of $1.92bn. At that date it held total assets of $25.22bn and shareholders' equity of $3.07bn.
Targa Resources Corp. (NYSE: TRGP) is a publicly traded Delaware corporation formed in October 2005. Targa is a leading provider of midstream services and is one of the largest independent infrastructure companies in North America. We own, operate, acquire, and develop a diversified portfolio of complementary domestic infrastructure assets.
To provide these services, we operate in two primary segments: (i) Gathering and Processing, and (ii) Logistics and Transportation (also referred to as our Downstream Business).
Our Gathering and Processing segment includes assets used in the gathering and/or purchase and sale of natural gas produced from oil and gas wells, removing impurities and processing this raw natural gas into merchantable natural gas by extracting NGLs; and assets used for the gathering and terminaling and/or purchase and sale of crude oil. The Gathering and Processing segment’s assets are located in the Permian Basin of West Texas and Southeast New Mexico (including the Midland, Central and Delaware Basins); the Eagle Ford Shale in South Texas; the Barnett Shale in North Texas; the Anadarko, Ardmore, and Arkoma Basins in Oklahoma (including the SCOOP and STACK) and South Central Kansas; the Williston Basin in North Dakota (including the Bakken and Three Forks plays); and the onshore and near offshore regions of the Louisiana Gulf Coast.
Quoted from its 10-K, filed 19 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Energy
- Industry
- Oil, Gas & Consumable Fuels
- Listed since
- 7 Dec 2010
- Employees
- 3,570
- Website
- targaresources.com ↗
- Head office
- 811 LOUISIANA STREET, HOUSTON, TX, 77002
- Classification
- Natural Gas Transmission
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Paul ChungIndependent Chairman of the Board, since 2005$447,120
- Ms. Jennifer KnealePresident$6.3m
- Mr. Matthew MeloyChief Executive Officer, Director, since 2010$15.5m
- Mr. William ByersChief Financial Officer
- Mr. Patrick McdoniePresident - Gathering and Processing$4.8m
- Mr. D. Scott PryorPresident - Logistics and Transportation$4.8m
- Mr. Gerald ShraderExecutive Vice President, General Counsel, Company Secretary
- Mr. J. EklofSenior Vice President, Chief Accounting Officer
- Mr. Robert MuraroChief Commercial Officer$4.8m
- Ms. Beth BowmanIndependent Director$293,443
- Ms. Lindsey CooksenIndependent Director$274,693
- Mr. Charles CrispIndependent Director$274,693
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 81
- Environment
- 91
- Social
- 64
- Governance
- 88
- Direct emissions (scope 1)
- 9,531,000 t
- Energy emissions (scope 2)
- 3,691,000 t
- Value chain emissions (scope 3)
- 32,700,000 t
- Women in the workforce
- 15%
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Targa Resources Corp benefits from having a diversified and integrated business model across the midstream energy sector. This allows the company to engage in multiple segments such as natural gas gathering and processing, crude oil gathering and storage, and refined products and NGL logistics. The diversified operations provide Targa with a competitive edge and the ability to capture opportunities in various markets.
- Targa Resources Corp possesses an extensive portfolio of strategically located assets, including pipelines, storage facilities, processing plants, and export terminals. This well-connected network enables the company to efficiently transport and store energy products, ensuring reliable supply and access to key markets. The strategic assets contribute to Targa's competitive advantage and market-leading position.
- Targa Resources Corp has consistently demonstrated strong financial performance over the years. The company's robust revenue growth, healthy profit margins, and solid cash flow generation reflect its ability to effectively manage operations and capitalize on market opportunities. The strong financial position provides Targa with stability and flexibility for future investments and expansion plans.
Weaknesses
- Targa Resources Corp is influenced by the volatility of commodity prices, particularly in the energy sector. Fluctuations in oil and natural gas prices can significantly impact the company's revenue and profitability. As a result, Targa is exposed to the inherent risks associated with price volatility, which may affect its financial performance and investment decisions.
- Targa Resources Corp operates in a highly regulated industry, subject to various federal, state, and local regulations. Compliance with environmental standards, permits, and other regulatory requirements poses risks and challenges to the company's operations. Failure to meet these obligations could result in fines, penalties, reputational damage, and additional costs for Targa.
Opportunities
- Targa Resources Corp can capitalize on the increasing demand for natural gas and natural gas liquids (NGLs). As the global energy transition progresses and natural gas gains prominence as a cleaner fuel source, Targa is well-positioned to benefit from rising consumption and infrastructure requirements. By expanding its operations and optimizing its network, Targa can seize growth opportunities in these expanding markets.
- The ongoing infrastructure development and expansion in the energy sector present significant opportunities for Targa Resources Corp. With the need to transport, store, and process energy products efficiently, Targa can play a vital role in supporting this infrastructure growth. By investing in new assets, expanding capacity, and forming strategic partnerships, the company can enhance its market position and capture a larger share of the growing market.
Threats
- Targa Resources Corp operates in a highly competitive industry characterized by numerous participants, including major energy companies, midstream operators, and independents. The intense competition may exert pressure on Targa's market share, pricing, and profitability. To counter this threat, Targa must continually strive for operational excellence, innovation, and differentiation to retain its competitive edge.
- Targa Resources Corp is exposed to geopolitical tensions, regulatory changes, and economic fluctuations that could impact its operations and financial performance. Trade disputes, political instability, changes in government policies, and economic downturns are factors that may create uncertainties and hinder Targa's growth prospects. The company must closely monitor these external factors and adapt to changing circumstances accordingly.
Sources and methodology
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- Chart on the Overview
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